Bitcoin Chart – Testing the $8400 Resistance

On January 6th Bitcoin bottomed at 6K level in what has become a major correction from all time highs.

From that low we have been testing the $8400-$8500 resistance line, if we can break it, we can expect to test the 9k again, but experts says that after that we can still retest the 6k bottom again or even lower than that prior to reaching higher values again.

I recommend extreme caution in the next hours, let’s see how this will play out, but I bet that bears are shorting if it reaches near 9k again, remember that on the grand scheme, we are still on the downtrend correction, and clearly not out of the woods yet, after that, I’m bullish on full recovery.